GBPUSD Reversed Nicely Off Resistance, Potential Drop!
GBPUSD has reversed nicely off its resistance at 1.3266 (100% Fibonacci extension x2, 50% & 78.6% Fibonacci retracement, horizontal swing high resistance) where it could drop to its support at 1.3149 (100% Fibonacci extension, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
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